Guests play at a blackjack table, hosted by The Casino Royale, at a private party in Singapore.

A half-ring of players place their chips on the blackjack table, in between sips of wine and cocktails. They eye the dealer expectantly as she slides cards across the black felt.

One of them makes 21. The winner cheers, while others jeer in jest.

Similar scenes have become common in Singapore after the city-state opened two casinos in early 2010 to spice up its reputation as a travel destination and reap more tourism dollars. But this one is far removed from the tension-filled gaming floors of bona fide casinos. The bets aren’t real. No money changes hands.

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The equipment is genuine enough, as are the dealers, who are professionally trained. The players, though, are party goers who are dressed to the nines to rub shoulders at a private function.

It’s a near-authentic, no-stakes gambling experience offered by events company The Casino Royale, which stages themed parties capitalizing on the novelty of Singapore’s fledging casino industry.

The Southeast Asian island state dropped a longstanding ban on casino gambling in 2005, paving the way for its first licensed casino resorts—Genting Singapore PLC’s Resorts World Sentosa and Las Vegas Sands Corp.’s Marina Bay Sands—to open two years ago.

Critics had opposed the casinos, fearing a rise in social problems like organized crime and gambling addiction. To contain the impact, the government imposed casino entry levies on citizens and permanent residents to the tune of S$100 a day and S$2,000 annually. Authorities also banned advertising targeting locals, and rolled out social programs to discourage heavy gambling.

But these moves didn’t do much to dispel the novelty of the casinos for casual players and novices, leaving events planners like The Casino Royale to meet demand for casino-esque thrills from people who don’t want to pay to play the real thing.

“We’re selling an experience and want it to be as professional as possible,” said The Casino Royale proprietor Estelle Tayler, who started the business in 2008. “But it’s also strictly for entertainment—there’s no actual gambling with real money.”

To fall within the letter of the law, The Casino Royale hosts games only at private events, and doesn’t display the tables in public. Guests are given vouchers which they swap for gaming chips, and play for pomp and pride.

To whip up realism, Ms. Tayler—a former executive host at the Venetian Macao casino resort—hires ex-professional dealers and forked out about S$4,000 for each of her custom-made gaming tables, which offer games like baccarat, roulette, and Texas Hold ‘Em poker.

Business remains healthy even as some novelty has worn off from earlier days, Ms. Tayler said. She runs about three to four events a month—with fees starting from S$2,000 each—mainly for corporate clients, although she also gets asked to partake in private parties and wedding receptions.

Some observers have frowned upon such casino-themed events, saying the parties could provide a gateway experience to more serious punting at the real casinos. But many guests don’t share those concerns.

“It’s all just a bit of fun, nothing serious,” said Mala Bharvani, a homemaker in her fifties who tried her luck at Tayler’s tables during a recent private party.

“There’s no real money, and we’re just playing with friends,” Mrs. Bharvani said. “The bad thing, though, is that you don’t win anything either!”

About Southeast Asia Real Time

Indonesia Real Time provides analysis and insight into the region, which includes Singapore, Thailand, Indonesia, Vietnam, Malaysia, the Philippines, Myanmar, Cambodia, Laos and Brunei. Contact the editors at SEAsia@wsj.com.

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